September
13, 2011 -- Bridgewater, NS - Silver Spruce Resources Inc. (TSXV: SSE) is
pleased to provide an update on exploration on the MRT rare earth element
(REE) property located approximately 35 km from Goose Bay along the Trans
Labrador Highway (TLH) and the Central Mineral Belt Joint Venture (CMBJV)
Uranium (U) Project, both in Labrador. Exploration has consisted
of regional work (stream sediment sampling and prospecting) on the MRT
REE property and prospecting, trenching, and diamond drilling (11 holes,
3,376 metres) on the CMBNW Joint Venture (JV)
property.
MRT - Results have been received for prospecting rock samples and
test geochemical surveys. The highest soil and two of the
highest stream sediment values from a test survey carried out by Ralph Stea, a geochemical consultant for Great West
Minerals Group, as part of due diligence for the Pope's Hill Joint Venture
(PHJV), were located in the western portion of the MRT property just
north of the TLH. These results have not been explained however
anomalous airborne Th radiometric anomalies are
located just to the north of the highway in this area. The
rock sample results from the prospecting give a number of significant REE
values over a 2 km2 area to the northeast of the anomalous stream and
soil values and additional prospecting to the northwest of the known
mineralization and to the north, upstream of the anomalous stream value,
has located radioactive samples, possibly indicating Th
mineralization related to the REE mineralization - some analyses remain
pending. A total of 60 outcrop/float results have been
received giving an average of 1.7% TREE+Y, including 14 values > 1.5 %
TREE+Y, and 36 < 0.2% TREE+Y. Average values in the area are:
2,752 ppm (0.27%) La, 4,969ppm (0.5%) Ce, 483
ppm Pr, 1,532 ppm (0.15%) Nd,
183 ppm Sm, 10.5 ppm Eu,
110.5 ppm Gd, 12 ppm Tb, 57 ppm Dy, 9.5 ppm Ho, 23 ppm Er,
3 ppm Tm, 16.5 ppm Yb, 2 ppm Lu, and 225 ppm
Y. Average values for sample results > 1.5% TREE+Y
are: 10,708 ppm (1.07%) La, 19,166 ppm (1.92%) Ce,
1,851 ppm (0.18%) Pr, 5806 ppm (0.58%) Nd, 672 ppm Sm, 35 ppm Eu, 398 ppm Gd, 41 ppm Tb,
192 ppm Dy, 31 ppm Ho, 76 ppm Er, 9 ppm Tm, 52 ppm Yb, 7
ppm Lu, and 789 ppm Y. Uranium results from the 60 rock
samples give seven values > 500 ppm U, including four >1000 ppm
(0.1%) U. The REE and U values are located in different parts
of the property and are not coincident. The samples are selected
grab samples, based on radioactivity using scintillometers
and are not representative of the overall values in the area.
A total of 68 stream sediments have been taken on the property with all
results pending. A regional soil survey is planned to better define
areas for follow up trenching later this fall.
CMBNW JV - The CMBJV operator, Crosshair Exploration and
Mining, is testing for deeper mineralization on the Two Time uranium zone
with 1,642 m of diamond drilling in 4 holes completed with drilling
ongoing. Down hole gamma logging has
confirmed uranium mineralization to a depth of at least 460
m. A second drill is testing the Firestone Showing, a
brecciated hematitic monzogranite,
located 7 kilometres to the southeast of the
Two Time Zone, which has given uranium values ranging from 200-900 parts
per million (ppm) in trench and float samples. Seven drill
holes, totaling 1734 m, have been completed with an additional seven
planned. All assays are pending.
Further information on the MRT and CMBJV properties can be found on
Silver Spruce's website at www.silverspruceresources.com. A
Technical Report on the CMBNW Property, prepared for Silver Spruce and
Crosshair, dated June 22, 2009 is filed on SEDAR. The CMBJV
Project is a joint venture with Crosshair, whereby Crosshair retains a
63% ownership and Silver Spruce 37%. SSE is not contributing
to the 2011 exploration program therefore is being diluted with the total
dilution dependent upon the final expenditures on the project.
All rock and stream samples are transported to the Activation Labs
preparation facility in Goose Bay by SSE personnel, then shipped to their
laboratory in Ancaster, ON. for
analysis using their 8 REE package for rocks and 1D enhanced package for streams.
The laboratory uses internal standards to check their analyses and blanks
are included in each sample batch. Consultant Ralph Stea's stream and soil sediment samples were shipped
to Great Western Minerals in Saskatoon, SK. with REE analyses carried out
on the -80 size fraction at SRC Geoanalytical
Laboratories, in Saskatoon using a total extraction method consisting of
heating in a mixture of ultrapure HF/HNO3/HClO4 until dry with the
residue dissolved in dilute ultrapure HNO3 and then REE analysis by
ICP-MS.
Plan maps of the properties, showing the sample results to date, the
airborne Th radiometric and magnetic data plus
pictures showing the area, the showings and some of the higher grade
samples, are shown on the Silver Spruce website at silverspruceresources.com.
This release has been approved by Peter M. Dimmell,
P.Geo. President and CEO of Silver Spruce
Resources Inc., who is a Qualified Person (QP) in NL and ON. as defined in National Instrument 43-101.
ABOUT SILVER SPRUCE
Silver Spruce is a diversified junior
exploration company with a portfolio of rare earth (Pope's Hill, Pope's
Hill JV (with Great West Minerals Group), MRT, RWM and the Straits), gold
silver (Big Easy), and for the longer term, uranium (CMBJV, Snegamook, Double Mer,
Mount Benedict), projects in Newfoundland and Labrador. With
interests in more than 4,000 claims totaling more than 1,000 square
kilometers in Labrador, Silver Spruce is one of the largest landholders
in one of the world's premier emerging rare earth and uranium districts.
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